DOHA: Consumer prices in the GCC region witnessed an overall increase over the 12-month period through July 2014. Within the GCC member states, the rise in the general consumer price index ranged between 0.63 percent and 3.1 percent, according to an inflation report released recently by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat).
The highest annual inflation rise was registered in Qatar with 3.1 percent, followed by 2.7 percent in both Kuwait and Bahrain, 2.6 percent in Saudi Arabia, 2.33 percent in the UAE, and 0.63 percent in Oman. On a monthly basis when compared to the June 2014 figures, the general consumer price index registered an increase of 0.3 percent in Qatar, Saudi Arabia and Bahrain to July 2014. While the month-by-month increase stood at 0.25 percent in Oman and 0.09 percent in the UAE, while remaining stable in Kuwait over the same period.
Food and beverages registered the most annual rise in prices per category in all GCC states except for Qatar and Oman where it decreased by 0.8 percent and 0.03 percent respectively. The increase percentage was 2.3 percent in Bahrain, 2 percent in Saudi Arabia, 1.96 percent in Kuwait, and 1.42 percent in the United Arab Emirates.
As for the main consumer price categories in each of the GCC member state, statistics show an annual increase of 12.58 percent in the prices of tobacco in Kuwait, while the recreation and culture prices went up by 10.4 percent in Saudi Arabia. Housing and utility prices also increased in Qatar and Bahrain by 7.6 percent and 5.4 percent respectively. In Qatar, foods and drinks, as well as tobacco prices dropped by 0.8 percent. The Peninsula
